San Francisco-based wealth management startup FutureAdvisor has secured US$15.5 million in fresh capital to bring automated financial advice to masses.
The group, also referred as robo-advisors, uses technology to replace humans and make data-driven financial advice.
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The round was led by new investor Canvas with participation from the company’s previous investors including Sequoia Capital.
In September 2013, Y Combinator provided the initial boost for the company’s launch into the marketplace.
The infusion valued the company at roughly US$75 million.
The group plans to use the capital to double the current staff to around 50 and continue building out the product and marketing teams.
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